VANCOUVER, BC, Nov. 9, 2021 /CNW/ - QUESTEX GOLD &
COPPER LTD. (TSXV: QEX) ("QuestEx" or the
"Company"), would like to congratulate Newcrest Mining
Limited ("Newcrest") and Pretium Resources
("Pretium") for announcing (Market Release, Nov. 9, 2021) that Newcrest has agreed to
purchase Pretium in a deal that values Pretium at approximately CAD
$3.5 billion.
Joe Mullin, QuestEx's CEO
comments: "Within the last 9 months, Newcrest, Hochschild
Mining and Newmont Corporation (QuestEx's largest shareholder),
have increased their holdings within British Columbia's prolific Golden Triangle.
As interest in the Golden Triangle continues to grow amongst the
world's largest mining companies, we anticipate an increased pace
to district consolidation. QuestEx has a 100% ownership interest in
one of the largest and most prospective land packages within the
Golden Triangle, with mineral tenures covering approximately 64,000
hectares in the Sulphurets district, close to Pretium's
Brucejack mine, and 40,400 hectares in the Red Chris district. We
consider QuestEx one of the most strategically situated companies
within the Golden Triangle to potentially benefit from future
consolidation."
About QuestEx's Properties in British Columbia's Golden Triangle
Sulphurets District
QuestEx's 100% owned,
64,000 hectare ("ha") land package (Figure 1B) in the Sulphurets district includes the
contiguous KSP and Kingpin properties, which span approximately 60
kilometres from the McLymont Creek access road and hydroelectric
projects, southwards, nearly to the past producing Granduc copper
mine, which was accessed by road from the deep-water port town of
Stewart. The properties are
surrounded by some of the most important past and current mining
and development projects in British
Columbia including Eskay
Creek, Snip, Johnny Mountain,
Brucejack, Kerr, Sulphurets, Mitchell and Iron Cap. QuestEx has
been actively exploring the KSP property and intends to release an
inaugural National Instrument ("NI") 43-101 Mineral Resource
Estimate for the Inel gold system, which is located on KSP, in Q1,
2022.
Red Chris District
QuestEx's 100% owned 40,452 ha land
package (Figure 1A) in the Red Chris district borders the Red Chris
property and mine, 70% of which was acquired by Newcrest from
Imperial Metals for US$804 million in
2019, as well as the GJ property, which Newcrest purchased from
Skeena Resources in 2020. QuestEx's mineral tenures include:
- Castle, which adjoins both Newcrest's GJ property and Newmont's
Tatoggoa property and is along trend of Newmont's Saddle North
copper gold deposit,
- North ROK, which hosts a porphyry copper-gold deposit (North
ROK Inferred Mineral Resource) that contains 1.19 million
ounces gold and 690 million pounds copper, and
- Coyote, which borders Newcrest's Red Chris property and
includes part of the Red Chris access road.
We seek safe harbor.
Qualified Person
Tony
Barresi, Ph.D., P.Geo., QuestEx's President, a Qualified
Person within the meaning of NI 43-101, has reviewed and approved
the technical information in this news release.
About QuestEx
QuestEx Gold & Copper Ltd. is
exploring for gold and copper with a focus on the Golden Triangle
and Toodoggone areas of British Columbia,
Canada. It has 100% ownership of one of the largest
portfolios of mineral tenures in British
Columbia's metal-rich Golden Triangle. The portfolio
includes the 312 square kilometre KSP property, which is surrounded
by some of the most important past and current mining and
development projects in British
Columbia (e.g. Eskay Creek,
Snip, Brucejack, KSM, Johnny
Mountain); QuestEx intends to release a NI 43-101 mineral
resource estimate for the Inel gold system, located on the KSP
property, in 2022. In the northern corner of the Golden Triangle in
the Red Chris mining district QuestEx's portfolio includes the
Castle property, a porphyry copper-gold project located adjacent to
Newmont's Tatogga property, and along trend of the Saddle North
porphyry copper-gold deposit (>10 million ounces gold, in all
categories). Other properties include North ROK, Coyote, and
Kingpin in the Golden Triangle, Sofia in the Toodoggone district, and Heart
Peaks and Hit in other strategic districts within British Columbia. These assets are being
advanced by a newly assembled technical and management team with
experience in exploration, permitting and discovery.
We seek safe harbor.
ON BEHALF OF THE BOARD OF DIRECTORS OF QUESTEX GOLD &
COPPER LTD.
"Joseph Mullin"
Joseph Mullin
Chief Executive Officer and Director
Neither TSX-V nor its Regulation Services Provider (as that
term is defined in the policies of TSX-V) accepts responsibility
for the adequacy or accuracy of this release.
NR 21-18
Cautionary Note Regarding Forward-Looking
Statements
All statements, trend analysis and other information
contained in this press release about anticipated future events or
results constitute forward-looking statements. Forward-looking
statements are often, but not always, identified by the use of
words such as "seek", "anticipate", "believe", "plan", "estimate",
"expect" and "intend" and statements that an event or result "may",
"will", "should", "could" or "might" occur or be achieved and other
similar expressions. All statements, other than statements of
historical fact, included herein, are forward-looking statements.
Although the Company believes that the expectations reflected in
such forward-looking statements and/or information are reasonable,
undue reliance should not be placed on forward-looking statements
since the Company can give no assurance that such expectations will
prove to be correct. These statements involve known and unknown
risks, uncertainties and other factors that may cause actual
results or events to differ materially from those anticipated in
such forward-looking statements, including the risks, uncertainties
and other factors identified in the Company's periodic filings with
Canadian securities regulators as well as the risk that the ongoing
COVID-19 pandemic may have on the Company's business. Important
factors could cause actual results to differ materially from
QuestEx expectations. Forward-looking statements are based on
estimates and opinions of management at the date the statements are
made. QuestEx does not undertake any obligation to update
forward-looking statements except as required by applicable
securities laws. Investors should not place undue reliance on
forward-looking statements.
SOURCE QuestEx Gold & Copper Ltd.